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Developers' shares, home sales plunge

HONG KONG: Shares of the city's big developers slumped yesterday after the government's tough new measures to cool speculation in the property market sparked a 50% drop in home sales over the weekend.

Komtar to be revitalised as Penang lookout point

GEORGE TOWN: A ride in a bubble lift up to the 65th floor of Komtar to view the scenery from one of Southeast Asia's highest buildings will soon be among the attractions the 35-year-old tower will offer visitors as the state government attempts to revive one of Penang's most prominent landmarks.

Developers expect price hike in 2H10

9th – 15th Aug: Developers expect price hike in 2H10

· Another listless week

The property sector had a listless week which was inline with the broad market. KL Property Index was 0.5% lower while all property stocks under coverage posted losses for the week with the exception of Sunrise.

Surveyors lower auction forecasts by up to 10% after cooling moves

HONG KONG: The property market may fall into a new round of consolidation if Tuesday's land auction of two sites in Kowloon attracts a poor response, analysts said.

Surveyors have lowered by 3% to 10% their valuations of the two sites after the government released new cooling measures for the property market last Friday, Aug 13.

Analysts warn of earnings decline at property firms

SHANGHAI: Property companies in the China market have been celebrating rising interim earnings, but analysts warn of a decline in profits over the next two years.

Developers have managed to report encouraging six-month earnings predominantly because most of their units were pre-sold last year when the China market was booming,

More property curbs may be needed: adviser

HONG KONG: A top government adviser has voiced uncertainty about the government's latest measures to control housing prices, saying officials might also need to consider curbing overseas investment in Hong Kong's overheated property market.